Stanley Lifestyles announces maiden International foray

Stanley Lifestyles Limited ("Stanley" or the "Company") (BSE: 544202 | NSE: STANLEY), one of India's largest integrated super premium and luxury furniture manufacturer and retailer, today announced its maiden entry into the international market through a strategic agreement with Singer (Sri Lanka) PLC ("Singer"), a leading Sri Lankan consumer durables and furniture retail conglomerate.

As part of this agreement, Stanley Lifestyles will launch its first international showroom in Colombo, Sri Lanka, marking a significant milestone in its growth journey. This showroom will showcase Stanley Lifestyles' full range of premium and luxury home solutions under its flagship brands, providing Sri Lankan consumers with access to high-quality, design-led furniture and interior products. The Company plans to open eight stores in the next three years in Sri Lanka.

Singer (Sri Lanka) PLC, a household name with over 140 years of legacy, operates more than 400 retail outlets and 1,200 dealer points across the country, alongside a strong e-commerce presence and has a well-established reputation as a trusted commercial Brand. Singer has been voted "People's Brand of the Year" for 18 consecutive years, reflecting its deep consumer trust and market leadership. Partnering with Singer allows Stanley Lifestyles immediate access to a wide and established distribution network, ensuring a seamless entry into the Sri Lankan local goods market.

The Sri Lankan luxury goods market, estimated to be around USD 1 billion, is witnessing renewed momentum driven by rising consumer spending, an expanding affluent class and increased inflows of high-net-worth individuals. With a growing appetite for premium lifestyle products, Colombo in particular presents a strong demand for aspirational home interiors and furniture solutions.

Commenting on this partnership, Managing Director, Sunil Suresh said: "This marks a defining moment in Stanley Lifestyles' journey as we step beyond India and enter international markets. Singer's strong brand reputation and extensive retail network make it the ideal partner for our maiden global foray. Together, we aim to bring our design-led, ultra-luxury home solutions to customers in Sri Lanka. Beyond showcasing our craftsmanship, this will also serve as a launchpad for our broader international expansion strategy, giving us valuable insights that we can replicate in other global markets."

Commenting on this partnership, Managing Director of Singer, Mahesh Wijewardene said: "We are truly delighted to partner with Stanley India to introduce the prestigious SOFAS & MORE by Stanley concept store to Sri Lanka. This collaboration marks an exciting step in bringing world-class, high-end furniture solutions to our customers, reflecting our commitment to elevating lifestyles with quality and elegance."

Shares of Stanley Lifestyles Limited was last trading in BSE at Rs. 290.70 as compared to the previous close of Rs. 294.50. The total number of shares traded during the day was 7905 in over 226 trades.

The stock hit an intraday high of Rs. 298.05 and intraday low of 288.00. The net turnover during the day was Rs. 2299802.00.

Source : Equity Bulls

Keywords

StanleyLifestyles INE01A001028 Furniture HomeFurnishing InternaitonalMarket SriLanka SingerPLC